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Standard cost system-materials and labor variances
The Hemlock Corporation produces a single product. The company has developed the following standards for labor and materials:
During the past month, the company purchased 3,500 pounds of direct materials at a total cost of $4,550. All of this material was used in the production of 1,300 units of output. Direct labor cost totaled $40,300 for the month. The following variances have been computed:
Compute the following. If the result is a variance indicate whether it is favorable or unfavorable.
(a) The standard price of materials. _________________.
(b) The standard quantity of materials allowed per unit of output _________.
(c) The actual direct labor cost per hour for the month. _____________.
(d) The labor rate variance. ______________________.
Low Validity
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a measure indicating inconsistency in the results of a test, assessment, or measuring tool over time or across different raters.
Early Childhood Experiences
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